Aston Bay and American West Metals Report 22.9m @ 8.5% Cu Intersected at the Storm Project, Nunavut, Canada

Aston Bay and American West Metals Report 22.9m @ 8.5% Cu Intersected at the Storm Project, Nunavut, Canada

Drill results outside of known mineralization confirm the expansion potential

Cyclone resource upgrade and expansion:

  • Assays confirm that the resource drilling around and within the Cyclone Deposit has intersected further thick high-grade copper intervals including:

  • Drill hole SR24-093 was drilled 75m southof the current known area of mineralization and has intersected:

    • 53.3m @ 3.9% copper (Cu), 12.6 grams per tonne (g/t) silver (Ag) from 86.9m downhole, including,

      • 22.9m @ 8.5% Cu, 17.8g/t Ag from 86.9m downhole, including,

        • 9.1m @ 14.4% Cu, 21.3g/t Ag from 93m downhole

  • Drill hole SR24-070 has intersected:

    • 45.7m @ 1.9% Cu, 9.4g/t Ag from 35.1m downhole, including,

      • 27.4m @ 3.1% Cu, 14.6g/t Ag from 35.1m downhole, including,

        • 15.2m @ 4.2% Cu, 16.2g/t Ag from 35.1m downhole

  • Drill hole SR24-045 has intersected:

    • 57.9m @ 1% Cu, 4.3g/t Ag from 32m downhole, including,

      • 10.7m @ 3.2% Cu, 16.0g/t Ag from 65.5m downhole

Sealift and 2025 program preparation:

  • NEAS cargo ship MV Mitiq has successfully completed the 2024 sealift operation at Storm

  • The sealift has delivered large quantities of supplies directly on Somerset Island for the 2025 exploration, resource expansion, and development programs, which is expected to save an estimated $4 Million on the 2025 budget

  • Bulk samples containing copper were also transported offsite via the cargo ship, demonstrating the complete logistics chain for the potential direct shipping product mining operation

TORONTO, ON / ACCESSWIRE / September 27, 2024 /Aston Bay Holdings Ltd. (TSXV:BAY)(OTCQB:ATBHF) ("Aston Bay" or the "Company") is pleased to provide an update on drilling activities at the Storm Copper Project ("Storm" or the "Project") on Somerset Island, Nunavut. The exploration program is being conducted by American West Metals Limited ("American West"), who is the operator of the Project. Aston Bay and American West have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, with Aston Bay maintaining a free carried interest until a decision to mine upon completion of a bankable feasibility study.

Thomas Ullrich, Chief Executive Officer of Aston Bay, commented:

"It is exciting to hit such a long interval of high-grade copper outside of the previously known zone of mineralization as we work toward calculation of a maiden resource estimate this fall. This suggests there is more to be found, and it bodes well for additional discoveries and expansion of the known existing mineralization with next year's campaign.

"We congratulate NEAS on the arrival of their cargo ship MV Mitiq into Aston Bay. This sealift is a first for the project that will significantly reduce the cost for both the delineation drilling and exploration diamond drilling programs next year. The successful operation demonstrates that bulk cargo and equipment can be economically transported to the project and that potential products could be delivered to market on the return journey. This will play an important part in future programs and development plans at Storm."

Figure 1: NEAS cargo ship MV Mitiq at anchor in Aston Bay for the Storm Project sealift.

EXCEPTIONAL COPPER INTERSECTIONS CONTINUE AT CYCLONE

Assay results from the latest batch of drill holes have been received and continue to highlight the expansion and upgrade potential of the Cyclone Deposit (Figure 2).

The latest assays have confirmed very thick and high-grade intersections of copper within and outside of the current known mineralization envelope, particularly at the west end and to the south of the deposit. The west end of Cyclone hosts the shallowest and highest-grade copper mineralization within the deposit, considered very favourable for a potential open-pit mining operation in future. The infill drilling also continues to confirm the excellent lateral continuity of the mineralization.

Assays for the remainder of the outstanding drill holes are expected in batches over the coming weeks.

Figure 2: Plan view of the Cyclone Deposit showing the copper mineralized zone outlines and historical and recent drilling, overlain on regional geology.

DRILL HOLE SR24-093 DETAILS

SR24-093 was drilled to the southwest of the Cyclone Deposit and to a downhole depth of 150.9m (Figure 3). The drill hole was designed to follow up other strong copper intersections outside of the known mineralization in the southern area including SR24-009 which intersected 15.2m @ 1.4% Cu, including 1.5m @ 6.4% Cu from 109.7m downhole (See August 15, 2024, Aston Bay news release.

Drill hole SR24-093 intersected 53m of strong chalcocite mineralization (53.3m @ 3.9% Cu) from 86.9m downhole with an intensely mineralized zone and semi-massive sulfide zone between 86.9m and 109.7m downhole averaging 8.5% Cu over 22.9m (Table 1).

The mineralized Allen Bay host rock in SR24-093 is displaced downward relative to the Cyclone Deposit south of the large fault that forms the northern boundary of the Central Graben. The faults that define this large block of down-dropped prospective rock within the Central Graben either host or are spatially associated with the majority of the copper mineralization at Storm. The graben block itself, with the prospective Allen Bay stratigraphic horizon covered by the barren overlying Douro formation at the surface, is little explored. These new intercepts highlight the potential for the Central Graben to host significant copper mineralization concealed at depth.

The large 75m step-out from the previous drilling, thickness, and grade of the copper mineralization are promising for the discovery of additional mineralization to the southwest of the Cyclone Deposit and elsewhere in the large but underexplored Central Graben.

Figure 3: N-S geological schematic section view through SR24-093 and SR24-073 showing the recent drill hole locations, recent assays, and the interpreted zones of copper mineralization..

DRILL HOLE SR24-045 and SR24-070 DETAILS

SR24-045 and SR24-070 are located on the same drill section and have intersected intense copper sulfide mineralization on the margins of the known zones of mineralization at Cyclone (Figure 2).

Mineralization in both drill holes consists of zones of intense vein- and fracture-style copper sulfide mineralization with thick intervals over 3% Cu hosted within fractured dolomite of the Allen Bay Formation.

The dominant copper sulfide mineral observed within the drill holes is chalcocite, with minor bornite and chalcopyrite on the margins of the mineralized intervals and within veins. The mineralogy and intensity of copper mineralization is typically characterized by significant lateral continuity within Cyclone.

Figure 4: Geological section view at 464,850E showing the mineralized intervals (>0.2% Cu) for drill holes SR24-011, SR24-15 and SR24-023, and the interpreted zones of copper mineralization.

SEALIFT - DEMONSTRATION OF COMPLETE LOGISTICS CHAIN

The NEAS cargo ship MV Mitiq has recently completed a sealift operation at the Storm Project. The ship anchored in Aston Bay and has delivered large quantities of aviation and diesel fuel, salt for diamond drilling, lumber, heavy machinery, and other supplies in preparation for the 2025 exploration and delineation drilling program.

The sealift is carried out using large, tugboat-guided barges maneuvered onto a suitable beach (Figure 5), and then off-loaded using large wheeled loaders. Materials are hoisted from the ship to the barges (and vice versa) using large cranes. This system eliminates the need for wharves or other port infrastructure to load and unload cargo (Figures 6 & 7).

The sealift has also demonstrated the loading operations and sent bulk samples of RC chips off-site. The mineralized samples will be used for metallurgical purposes and the process has demonstrated the complete logistics chain for a potential mining operation at the Storm Project: it is envisaged that potential copper direct shipping product would be transported to market in sea containers via sealift on empty ships returning to port on the east coast of Canada.

Whereas the sealift has incurred expenses on the 2024 program, the exercise is expected to save approximately $4m on the 2025 program budget.

Figure 5: Photo of the sealift tug and barging operation underway on Aston Bay, Nunavut.

Figure 6: Offloading of cargo at the Storm Project Marine Loading Area (MLA), on the coast of Aston Bay, Nunavut.

Figure 7: Photo of the Storm Project Marine Loading Area (MLA), on the coast of Aston Bay, Nunavut.

Hole ID

From (m)

To (m)

Width

Cu %

Zn %

Ag g/t

SR24-043

91.44

99.06

7.62

0.4

0.0

0.9

100.58

102.11

1.53

0.3

0.0

1.0

105.16

106.68

1.52

0.2

0.0

2.0

SR24-045

32.00

89.92

57.91

1.0

0.0

4.3

Including

65.53

76.20

10.67

3.2

0.0

9.0

SR24-049

27.43

44.20

16.76

1.0

0.0

2.9

Including

27.43

35.05

7.62

1.5

0.0

4.0

48.77

68.58

19.81

0.4

0.0

1.3

Including

65.53

67.06

1.52

1.1

0.0

1.0

SR24-053

83.82

86.87

3.05

0.4

0.0

0.5

SR24-061

48.77

51.82

3.05

0.5

0.0

1.0

Including

42.67

45.72

3.05

1.0

0.0

2.0

and

50.29

51.82

1.52

1.1

0.0

1.0

92.96

94.49

1.52

0.5

0.0

1.0

111.25

117.35

6.10

0.2

0.0

1.0

SR24-063

22.86

36.58

13.72

1.3

0.0

4.0

Including

27.43

32.00

4.57

3.1

0.1

8.7

42.67

45.72

3.05

0.5

0.1

3.0

50.29

51.82

1.52

0.3

0.0

1.0

59.44

60.96

1.52

0.3

0.0

1.0

65.53

71.63

6.10

0.3

0.2

2.5

SR24-067

12.19

21.34

9.14

0.3

0.0

1.0

30.48

35.05

4.57

0.8

0.0

2.0

Including

30.48

32.00

1.52

1.2

0.1

2.0

44.20

45.72

1.52

0.3

1.0

3.0

50.29

62.48

12.19

1.0

0.1

4.6

Including

50.29

51.82

1.52

1.0

0.0

6.0

and

57.91

62.48

4.57

1.9

0.1

8.7

59.44

68.58

9.14

0.3

0.0

2.0

73.15

74.68

1.52

0.4

0.0

2.0

SR24-070

27.43

28.96

1.52

0.4

0.0

1.0

35.05

80.77

45.72

1.9

0.1

9.4

Including

35.05

62.48

27.43

3.1

0.1

14.6

Including

35.05

50.92

15.24

4.2

0.1

16.2

SR24-071

33.53

35.05

1.52

0.4

0.0

9.0

65.53

82.30

16.76

0.8

0.1

3.7

Including

67.06

68.58

1.52

2.3

0.0

7.0

and

79.25

80.77

1.52

2.9

0.1

15.0

SR24-072

59.44

67.06

7.62

1.0

0.0

3.8

Including

59.44

64.01

4.57

1.5

0.0

4.7

71.63

74.68

3.05

0.6

0.0

3.0

79.25

80.77

1.52

0.7

0.0

2.0

SR24-073

45.72

54.86

9.14

0.2

0.0

2.7

65.53

82.30

16.76

0.4

0.0

3.2

Including

73.15

74.68

1.52

1.1

0.0

6.0

86.87

88.39

1.52

0.6

0.0

4.0

SR24-075

97.54

105.16

7.62

0.6

0.0

4.4

Including

97.54

99.06

1.52

1.1

0.0

7.0

SR24-076

106.68

120.40

13.72

0.8

0.0

2.4

Including

109.73

112.78

3.05

2.1

0.0

5.5

128.02

129.54

1.52

0.3

0.0

1.0

SR24-087

25.91

30.48

4.57

0.5

0.0

1.7

48.77

57.91

9.14

1.0

0.0

2.8

Including

50.29

56.39

6.10

1.3

0.0

3.8

76.20

88.39

12.19

0.6

0.0

2.5

Including

76.20

79.25

3.05

1.4

0.0

4.0

SR24-089

9.14

10.67

1.52

0.5

0.0

2.0

21.34

25.91

4.57

0.4

0.0

1.7

38.10

53.34

15.24

0.4

0.0

1.5

Including

42.67

44.20

1.52

1.1

0.0

3.0

57.91

59.44

1.52

0.5

0.0

1.0

65.53

68.58

3.05

0.4

0.0

1.5

88.39

89.92

1.52

0.3

0.0

3.0

SR24-091

16.76

24.38

7.62

0.4

0.0

2.6

32.00

35.05

3.05

0.3

0.0

0.8

53.34

62.48

9.14

0.3

0.0

1.5

70.10

77.72

7.62

0.2

0.0

1.2

SR24-093

86.87

140.21

53.34

3.9

0.3

12.6

Including

86.87

109.73

22.86

8.5

0.3

17.8

Including

92.96

102.11

9.14

14.4

0.0

21.3

Including

99.06

102.11

3.05

27.7

0.0

39.0

SR24-095

39.62

41.15

1.52

0.8

0.0

3.0

SR24-097

57.91

60.96

3.05

0.2

0.1

2.5

71.63

74.68

3.05

0.3

0.0

2.0

85.34

86.87

1.52

0.4

0.0

1.0

SR24-099

62.48

73.15

10.67

0.3

0.0

1.7

83.82

86.87

3.05

0.8

0.1

1.5

SR24-101

67.06

70.10

3.05

0.4

0.0

1.5

86.87

89.92

3.05

0.2

0.0

1.5

92.96

94.49

1.52

0.3

0.0

2.0

126.49

128.02

1.52

0.9

0.0

3.0

140.21

141.73

1.52

0.5

0.0

2.0

SR24-103

65.53

71.63

6.10

0.3

0.0

1.5

94.49

108.20

13.72

0.5

0.0

1.9

Including

102.11

103.63

1.52

2.2

0.0

5.0

SR24-105

96.01

106.68

10.67

0.4

0.0

1.1

112.78

114.30

1.52

0.3

0.0

1.0

SR24-107

60.96

64.01

3.05

0.5

0.0

1.0

100.58

103.63

3.05

0.3

0.0

0.8

SR24-109

118.87

120.40

1.52

0.7

0.0

2.0

SR24-111

67.06

68.58

1.52

0.2

0.0

1.0

97.54

99.06

1.52

0.4

0.0

2.0

SR24-112

51.82

53.34

1.52

0.3

0.0

2.0

76.20

99.06

22.86

0.8

0.0

3.4

Including

76.20

85.34

9.14

1.8

0.0

6.2

Table 1: Summary of recent significant drilling intersections at the Cyclone Deposit (>0.2% Cu). The intersections are expressed as downhole widths and are interpreted to be close to true widths.

Details of the delineation drilling and exploration drill holes for the 2024 program are available at https://astonbayholdings.com/news/2024-storm-drill-hole-details/.

Qualified Person

Michael Dufresne, M.Sc., P.Geol., P.Geo., is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical information in this press release.

About the Storm Copper and Seal Zinc-Silver Projects, Nunavut

The Nunavut property consists of 173 contiguous mining claims covering an area of approximately 219,257 hectares on Somerset Island, Nunavut, Canada. The Storm Project comprises both the Storm Copper Project, a high-grade sediment-hosted copper discovery (intersections including 110m* @ 2.5% Cu from surface and 56.3* @ 3.1% Cu from 12.2m as well as the Seal Zinc Deposit (intersections including 14.4m* @ 10.6% Zn, 28.7g/t Ag from 51.8m and 22.3m* @ 23.0% Zn, 5.1g/t Ag from 101.5m). Additionally, there are numerous underexplored and undrilled targets within the 120-kilometre strike length of the mineralized trend, including the Tornado copper prospect where 10 grab samples yielded >1% Cu up to 32% Cu in gossans. The Nunavut property is now the subject of an 80/20 unincorporated joint venture with American West (see "Agreement with American West" below for more details).

Storm Discovery and Historical Work

High-grade copper mineralization was discovered at Storm in the mid-1990s by Cominco geologists conducting regional zinc exploration around their then-producing Polaris lead-zinc mine. A massive chalcocite boulder found in a tributary of the Aston River in 1996 was traced to impressive surface exposures of broken chalcocite mineralization for hundreds of metres of surface strike length at what became named the 2750N, 2200N, and 3500N zones. Subsequent seasons of prospecting, geophysics and over 9,000 m of drilling into the early 2000s confirmed a significant amount of copper mineralization below the surface exposures as well as making the blind discovery of the 4100N Zone, a large area of copper mineralization with no surface exposure.

Following the merger of Cominco with Teck in 2001 and the closure of the Polaris Mine, the Storm claims were allowed to lapse in 2007. Commander Resources staked the property in 2008 and flew a helicopter-borne VTEM survey in 2011 but conducted no additional drilling. Aston Bay subsequently entered into an earn-in agreement with Commander and consolidated 100% ownership in 2015. Commander retained a 0.875% Gross Overriding Royalty in the area of the original Storm claims which was purchased by Taurus Mining Royalty Fund L.P. in January 2024.

In 2016 Aston Bay entered into an earn-in agreement with BHP, who conducted a 2,000-station soil sampling program and drilled 1,951m of core in 12 diamond drill holes, yielding up to 16m* @ 3.1% Cu. BHP exited the agreement in 2017 and retains no residual interest in the project. Aston Bay conducted a property-wide airborne gravity gradiometry survey in 2017 and drilled 2,913m in nine core holes in the Storm area in 2018 yielding a best intercept of 1.5m* @ 4.4% Cu and 20.5m* @ 0.6% Cu.

Agreement with American West

On March 9, 2021, Aston Bay entered into an option agreement with American West Metals Limited (American West), and its wholly owned Canadian subsidiary Tornado Metals Ltd., pursuant to which American West was granted an option to earn an 80% undivided interest in the Project by spending a minimum of CAD$10 million on qualifying exploration expenditures. The parties amended and restated the Option Agreement as of February 27, 2023, to facilitate American West directly earning an interest in the Project alongside its Canadian subsidiary without any change to the overall commercial agreement between the parties. The expenditures were completed during 2023, and American West exercised the option. American West and Aston Bay have formed an 80/20 unincorporated joint venture.

Under the joint venture, Aston Bay shall have a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Project will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%.

Recent Work

American West completed a fixed loop electromagnetic (FLEM) ground geophysical survey in 2021 that yielded several new subsurface conductive anomalies. A total of 1,534m were drilled in 10 diamond drill holes in the 2022 season, yielding several impressive near-surface intercepts including 41m* @ 4.1% Cu as well as 68m of sulfide mineralization associated with a deeper conductive anomaly.

In April 2022, results of beneficiation studies demonstrated that a mineralized intercept grading 4% Cu from the 4100N area could be upgraded to a 54% Cu direct ship product using standard sorting technology. Further beneficiation and metallurgical studies are ongoing.

In April 2023, American West embarked on a spring delineation drilling program using a helicopter-portable RC drill rig as well as conducting gravity and moving loop electromagnetic (MLEM) ground geophysical programs.

The summer 2023 program conducted further delineation drilling of the near-surface high-grade copper zones to advance them toward maiden resource estimates in 2024. Deep diamond drilling during 2023 discovered high-grade copper sulfides up to 2.7% Cu at approximately 300m vertical depth (ST23-02), suggesting the potential for discovery of large-scale copper targets at depth.

Diamond drilling of new high-priority deep MLEM targets, RC delineation drilling for resource development and additional geophysical surveys are now underway in the 2024 program. Metallurgical studies and environmental baseline studies are ongoing, with bulk sampling for prefeasibility-level processing planned for summer 2024.

*Stated drill hole intersections are all core length, and true width is expected to be 60% to 100% of core length.

About Aston Bay Holdings

Aston Bay is a publicly traded mineral exploration company exploring for high-grade critical and precious metal deposits in Nunavut, Canada and Virginia, USA.

The Company is currently exploring the Storm Copper Property and Cu-Ag-Zn-Co Epworth Property in Nunavut, and the high-grade Buckingham Gold Vein in central Virginia. The company is also in advanced stages of negotiation on other lands with high-grade critical metals potential in North America

The Company and its joint venture partners, American West Metals Limited and its wholly-owned subsidiary, Tornado Metals Ltd. (collectively, "American West") have formed a 20/80 unincorporated joint venture in respect of the Storm Project property, which hosts the Storm Copper Project and the Seal Zinc Deposit. Under the unincorporated joint venture, Aston Bay shall have a free carried interest until American West has made a decision to mine upon completion of a bankable feasibility study, meaning American West will be solely responsible for funding the joint venture until such decision is made. After such decision is made, Aston Bay will be diluted in the event it does not elect to contribute its proportionate share and its interest in the Storm Project property will be converted into a 2% net smelter returns royalty if its interest is diluted to below 10%.

About American West Metals Limited

AMERICAN WEST METALS LIMITED (ASX: AW1) is an Australian clean energy mining company focused on growth through the discovery and development of major base metal mineral deposits in Tier 1 jurisdictions of North America. The company's strategy is focused on developing mines that have a low-footprint and support the global energy transformation. AW1's portfolio of copper and zinc projects in Utah and Canada include significant existing resource inventories and high-grade mineralization that can generate robust mining proposals. Core to AW1's approach is a commitment to the ethical extraction and processing of minerals and making a meaningful contribution to the communities where its projects are located.

Led by a highly experienced leadership team, AW1's strategic initiatives lay the foundation for a sustainable business which aims to deliver high-multiplier returns on shareholder investment and economic benefits to all stakeholders.

For further information on American West, visit: www.americanwestmetals.com.

FORWARD-LOOKING STATEMENTS

Statements made in this news release, including those regarding entering into the joint venture and each party's interest in the Project pursuant to the agreement in respect of the joint venture, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute "forward-looking statement", which can be identified by the use of conditional or future tenses or by the use of such verbs as "believe", "expect", "may", "will", "should", "estimate", "anticipate", "project", "plan", and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay's expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation.

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For more information contact:

Thomas Ullrich, Chief Executive Officer
thomas.ullrich@astonbayholdings.com
(416) 456-3516

Sofia Harquail, IR and Corporate Development
sofia.harquail@astonbayholdings.com
(647) 821-1337

SOURCE:Aston Bay Holdings Ltd.



View the original press release on accesswire.com

News Provided by ACCESSWIRE IA via QuoteMedia

BAY:CC
Aston Bay Holdings

Aston Bay Holdings Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Aston Bay Holdings

Aston Bay Holdings

Aston Bay Holdings Ltd is an exploration-stage company. It is engaged in the exploration and development of gold and base metal deposits in Virginia, USA and Nunavut, Canada. Its projects are Buckingham Gold property, Virginia Gold Belt, Polymetallic Base, and Precious metals, Storm Copper Project, and Seal Zinc deposit.
Aston Bay and American West Metals Thick High-Grade Copper in Deep Drilling at the Storm Project, Nunavut, Canada

Aston Bay and American West Metals Thick High-Grade Copper in Deep Drilling at the Storm Project, Nunavut, Canada

Large copper system at depth confirmed by assays with up to 3.7% Cu

Drilling Highlights

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce 13% Copper in Assays at the Cyclone Deposit and a New Copper Discovery at the Storm Project, Nunavut, Canada

Aston Bay and American West Metals Announce 13% Copper in Assays at the Cyclone Deposit and a New Copper Discovery at the Storm Project, Nunavut, Canada

Drilling Highlights

  • Drilling surpasses 20,000 metres ("m") with 128 Reverse Circulation (RC) drill holes and 14 diamond drill holes now completed in 2024 at Storm and Tempest

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Aston Bay Announces Initiation of Airborne MobileMT Geophysical Survey and Expanded Claims Holdings at the High-Grade Copper-Silver Epworth Project, Nunavut, Canada

Aston Bay Announces Initiation of Airborne MobileMT Geophysical Survey and Expanded Claims Holdings at the High-Grade Copper-Silver Epworth Project, Nunavut, Canada

HIGHLIGHTS

  • Property-wide 8,105 line-kilometre (line-km) helicopter-borne MobileMT electromagnetic ("EM") geophysical survey is underway to identify copper exploration targets and delineate regional and property-scale structures

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce Large-Scale Copper Targets at Depth Take Shape at the Storm Project, Nunavut, Canada

Aston Bay and American West Metals Announce Large-Scale Copper Targets at Depth Take Shape at the Storm Project, Nunavut, Canada

Diamond drilling intersects new zones of copper at depth as the deep search EM survey identifies a 1,300m x 500m anomaly for drill testing

HIGHLIGHTS

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Aston Bay and American West Metals Announce Assays Confirm Additional Near-Surface, High-Grade Copper at the Storm Project, Canada

Aston Bay and American West Metals Announce Assays Confirm Additional Near-Surface, High-Grade Copper at the Storm Project, Canada

HIGHLIGHTS

Resource delineation program on track with multiple high-grade copper intervals confirmed by assays at the Cyclone and Chinook Deposits

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD APPOINTS RAYMOND THRELKELD AS CHAIRMAN

WESTERN COPPER AND GOLD APPOINTS RAYMOND THRELKELD AS CHAIRMAN

western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) is pleased to announce the appointment of Mr. Raymond Threlkeld as Chairman of the Board. Mr. Threlkeld, who joined the Board on June 27, 2024 succeeds Dr. Bill Williams who served as Interim Chairman since February 22, 2024 . Dr. Williams will continue to serve on the Board as a director.

Western Copper and Gold Corporation logo (CNW Group/Western Copper and Gold Corporation)

"I am pleased with the progress made during my tenure as Interim Chairman," said Bill Williams . "With Ray's extensive background in project development, construction, and executive management, I am confident he is the right person to lead the Board moving forward".

"I am excited to step into the role of Chairman and to lead the Board during this pivotal time for Western," said Raymond Threlkeld . "I look forward to collaborating with my fellow directors and management to unlock the full potential of the Casino Project".

ABOUT western copper and gold corporation

western copper and gold corporation is developing the Casino Project, Canada's premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.

The Company is committed to working collaboratively with our First Nations and local communities to progress the Casino project, using internationally recognized responsible mining technologies and practices.

For more information, visit www.westerncopperandgold.com .

On behalf of the board,

"Sandeep Singh"

Sandeep Singh
Chief Executive Officer
western copper and gold corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western's operations in future periods. Statements that are not historical fact are "forward-looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" as that term is defined in National Instrument 51-102 ("NI 51-102") of the Canadian Securities Administrators (collectively, "forward-looking statements"). Certain forward-looking information should also be considered future-oriented financial information ("FOFI") as that term is defined in NI 51-102. The purpose of disclosing FOFI is to provide a general overview of management's expectations regarding the anticipated results of operations and capital expenditures and readers are cautioned that FOFI may not be appropriate for other purposes. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible" and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding: mineral resource and reserve estimation; mine plan and operations; internal rate of return; sensitivities; net present value; potential recoveries; design parameters; economic potential; processing mineralized material; the potential of robust economics at Casino ; advancing the Project through additional engineering and towards the next step in permitting and submission of an environmental and socio-economic effects statement; key changes to the TMF design; increases to the gold recovery in the heap leach; potential economic returns from the Project; estimated initial capital investment costs; estimated operating costs; estimated mining costs; development of the airstrip and all weather access road; anticipated concentrate handling service charges; developing and operating the Project in a safe, ethical and socially-responsible manner; plans for further development and securing the required permits and licenses for further studies to consider operation; market price of precious and base metals; or other statements that are not statement of fact. The material factors or assumptions used to develop forward-looking statements include prevailing and projected market prices and foreign exchange rates, exploration estimates and results, continued availability of capital and financing, construction and operations, the Company not experiencing unforeseen delays, unexpected geological or other effects, equipment failures, permitting delays, and general economic, market or business conditions and as more specifically disclosed throughout this document, and in the AIF and Form 40-F.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; uncertainty of estimates of capital and operating costs, recovery rates, production estimates and estimated economic return; risks related to joint venture operations; risks related to cooperation of government agencies and First Nations in the development of the property and the issuance of required permits; risks related to the need to obtain additional financing to develop the property and uncertainty as to the availability and terms of future financing; the possibility of delay in construction projects and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risks and uncertainties disclosed in Western's AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/western-copper-and-gold-appoints-raymond-threlkeld-as-chairman-302260782.html

SOURCE western copper and gold corporation

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/27/c3353.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

Grid Battery Metals Drilling Update on its Clayton Valley Lithium Project

(TheNewswire)

Grid Battery Metals Inc..

Coquitlam, BC September 26, 2024 TheNewswire Grid Battery Metals Inc. (the "Company" or "Grid") ( TSXV: CELL, OTCQB: EVKRF FRA: W47 ) is pleased to announce that a reverse circulation drilling program is well under way on the Company's claim block at Silver Peak, Clayton Valley, Esmeralda County, Nevada.  This strategic land package, covering approximately 2,300 acres (930 ha), directly adjoins the western portion of lithium producer Albemarle's (NYSE: ALB) evaporation ponds and is nearby Century Lithium Corp.'s (TSXV: LCE) (OTCQB: CYDVF) proposed 5,430-acre Angel Island Lithium Mine.  The Company has completed the drilling of its first hole to a depth of over 870 feet, with the remaining drill holes proposed to a maximum depth of 1500 feet.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Quetzal Copper Receives Drill Permit for Princeton Copper Project, British Columbia

Quetzal Copper Receives Drill Permit for Princeton Copper Project, British Columbia

Quetzal Copper Corp. (TSXV: Q) ("Quetzal" or the "Company") is pleased to provide an update that it received a permit that allows drilling to commence at the Company's Princeton Copper Project in British Columbia, Canada. The 11,500-hectare property sits between the Hudbay Minerals and Mitsubishi owned Copper Mountain Mine and the town of Princeton.

CEO Matt Badiali said, "Princeton is the project that originally convinced us to create Quetzal Copper. It checks all the boxes for a potential home run project: next to an operating mine, high-grades in historic samples, and drive-up/drive-home targets. Despite being next to a world-class mine, the key targets remain undrilled and present an exciting opportunity for Quetzal shareholders. Historically, the targets were spread over a series of mining claims, worked independently. We are thrilled to have all the claims united now and are moving rapidly to commence drilling a soon as we can."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Drilling Has Started at Prismo Metals' Palos Verdes Project

Drilling Has Started at Prismo Metals' Palos Verdes Project

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF)(FSE:7KU) ("Prismo" or the "Company") is pleased to announce that drilling at its Palos Verdes project in Mexico has started. Hole PV-24-34 of this collaborative drilling program with Vizsla Silver Corp's (TSXV:VZLA) ("Vizsla") was collared on Vizsla's property. The planned length of the first hole is 250 meters out of a total expected 1,250 meters in the first phase of the program now underway

Dr. Craig Gibson, Co-Founder and Chief Exploration Officer of the Company explained: "The goal of the first phase of drilling is designed to explore the vein system to the west of the fault below the zone of bonanza grade intercepts from the previous campaigns. We expect the first hole to cut both the Palos Verdes vein as well as the higher gold-silver vein about 50 meters downdip from the previous intersections. Assays reported from last year's drilling include hole PV-23-25 with 102 g/t gold, 3,100 g/t silver and 0.26% zinc over 0.5 meters, or 11,520 g/t silver equivalent - the highest-grade intercept recorded at the project to date (see News Release of July 27, 2023)."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

FPX Nickel Announces Management Appointments to Support the Advancement of the Baptiste Nickel Project

 FPX Nickel Corp. (TSX-V: FPX, OTCQB: FPOCF) (" FPX " or the " Company ") is pleased to announce the appointments of Nigel Fisher as Director, Environment and Jarett Lalonde as Director, Government & Public Affairs for the Company.  Mr. Fisher will lead the advancement of environmental and regulatory programs for FPX projects, while Mr. Lalonde will lead the Company's public communications and government relations strategies.

FPX Nickel logo (CNW Group/FPX Nickel Corp.)

"We are excited to grow our team with Nigel and Jarett," commented Tim Bekhuys , FPX's Senior Vice-President, Sustainability & External Relations.  "Mr. Lalonde has a proven track record as a trusted government relations advisor to corporations, governments and nonprofits, and brings a wealth of knowledge and strategic insight to our team.  Mr. Fisher has been instrumental in permitting and advancing many of British Columbia's largest mines, including most recently, the Blackwater and Eskay Creek mines, and will lead our Environmental Permitting and Assessment for the Baptiste Project."

Mr. Fisher brings 20 years' experience leading environmental assessments, permitting and management systems, developing and executing on regulatory strategy and advancing governance and funding agreements with Indigenous governments across British Columbia .  Mr. Fisher has held progressively senior roles with New Gold, Teck Resources, Woodfibre LNG, and most recently, Skeena Resources as Director of Environment and Regulatory Affairs.  In his prior roles, he successfully obtained multiple regulatory approvals for large-scale resource projects while maintaining compliance with existing and changing legislation.

Mr. Lalonde is a highly regarded public affairs leader with over 20 years' experience in the natural resources, technology, and regulated products sectors.  In his most recent role as Global Head of Product Policy at Shopify, Mr. Lalonde was instrumental in crafting compelling public affairs narratives for the company's diverse product offerings and spearheading engagement with policy makers across North America and Europe.  Before joining Shopify, he worked with Global Public Affairs, a leading government relations and strategic communications firm, where he performed advisory work for numerous companies advancing large-scale natural resource projects in British Columbia and across Canada.  Mr Lalonde previously served as Chief of Staff to the Attorney General & Minister of Justice for the province of British Columbia , and as Policy Advisor to the Minister of Natural Resources Canada.

Stock Option Grant

FPX has granted 775,000 stock options to certain employees of the Company.  The stock options are exercisable at a price of $0.35 per share for a five-year period commencing on September 23, 2024 .

Market Making Services

Further to its news release on August 1, 2024 , the Company has engaged the services of Insight Capital Partners Inc. (" Insight ") and its market making service provider, ICP Securities Inc. (" ICP ") (the " Engagements ") effective August 1, 2024 .

Pursuant to an agreement (the " Consulting Agreement ") between the Company and Insight, Insight will provide capital markets consulting services, including providing the Company with advice and information regarding trading activity, for a term of twenty-four (24) months, provided that after a period of four (4) months either party may terminate the Consulting Agreement on thirty (30) days notice.

In addition, pursuant to an agreement (the " Market Making Agreement ") between the Company and ICP, the Company has engaged ICP to provide market making services. As previously announced, ICP will provide automated market making services, including use of its proprietary algorithm, ICP Premium TM , in compliance with the policies and guidelines of the TSX Venture Exchange and applicable securities laws. The Market Making Agreement is for an initial term of four (4) months (the " Initial Term ") and shall be automatically renewed for subsequent one (1) month terms (each subsequent one-month term called an " Additional Term ") unless either party provides at least thirty (30) days written notice prior to the end of the Initial Term or an Additional Term, as applicable.

As previously disclosed, there are no performance factors contained in the Consulting Agreement and no stock options or other compensation are being granted in connection with the Engagements. Both Insight and ICP are at arm's length to the Company. Insight and ICP do not have any interest, directly or indirectly, in FPX Nickel or its securities or any right or intent to acquire such an interest at this time; however, Insight, ICP and its clients may acquire an interest in the securities of the Company in the future.

ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the Company's shares. ICP will be responsible for the costs it incurs in buying and selling the Company's shares, and no third party will be providing funds or securities for the market making activities.

About the Baptiste Nickel Project

The Company's Baptiste Nickel Project represents a large-scale greenfield discovery of nickel mineralization in the form of a sulphur-free, nickel-iron mineral called awaruite (Ni 3 Fe) hosted in an ultramafic/ophiolite complex.  The Baptiste mineral claims cover an area of 408 km 2 , west of Middle River and north of Trembleur Lake, in central British Columbia.  In addition to the Baptiste Deposit itself, awaruite mineralization has been confirmed through drilling at several target areas within the same claims package, most notably at the Van Target which is located 6 km to the north of the Baptiste Deposit.  Since 2010, approximately US $30 million has been spent on the exploration and development of Baptiste.

The Baptiste deposit is located within the territories, keyohs, and consultative boundaries of the Tl'azt'en Nation, Binche Whut'enne, Yekooche First Nation, and Takla Nation .

About FPX Nickel Corp.

FPX Nickel Corp. is focused on the exploration and development of the Decar Nickel District, located in central British Columbia , and other occurrences of the same distinctive style of nickel-iron mineralization. For more information, please view the Company's website at www.fpxnickel.com .

On behalf of FPX Nickel Corp.

"Martin Turenne"
Martin Turenne , President, CEO and Director

Forward-Looking Statements

Certain of the statements made and information contained herein is considered "forward-looking ‎information" within the meaning of applicable Canadian securities laws. These statements address ‎future events and conditions and so involve inherent risks and uncertainties, as disclosed in the ‎Company's periodic filings with Canadian securities regulators. Actual results could differ materially ‎from those currently projected by management at the time of writing due to many factors the majority ‎of which are beyond the control of FPX and its management. In particular, this news release contains ‎forward-looking statements pertaining, directly or indirectly, to the following: the duration of the ‎Consulting Agreement and the Market Making Agreement, and the services provided thereunder. These statements speak only ‎as of the date of this release or as of the date specified in the documents accompanying this release, as ‎the case may be. The Company does not assumes the obligation to update any forward-looking ‎statement except as expressly required by applicable securities law.‎

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the ‎adequacy or accuracy of this release.‎

SOURCE FPX Nickel Corp.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2024/23/c9666.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
WESTERN COPPER AND GOLD WELCOMES FEDERAL FUNDING FOR B.C.-YUKON GRID CONNECT PROJECT

WESTERN COPPER AND GOLD WELCOMES FEDERAL FUNDING FOR B.C.-YUKON GRID CONNECT PROJECT

 western copper and gold corporation ("Western" or the "Company") (TSX: WRN) (NYSE American: WRN) welcomes the recent announcement by Natural Resources Canada ("NRCan"), conditionally approving C$40 million in federal funding to undertake pre-feasibility activities to advance a high-voltage transmission line network connecting the Yukon electrical grid to the North American grid in British Columbia . This funding would be provided through the Critical Minerals Infrastructure Fund ("CMIF").

The announcement was made on September 20, 2024 , by the Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, with the Honourable Josie Osborne, British Columbia's Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of the Yukon .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Aston Bay Holdings

Aston Bay Holdings Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×